Biden’s DOE Grants $50 Million to Green Energy Company That Sources Its Materials from China
Energy Department stated that funding would “ensure that our clean energy future will be American-made”.
In October, the Biden Energy Department announced that it would award a grant of $50 million to a lithium-battery company. “ensure our clean energy future is American-made.” But the company sources its battery materials in China, highlighting the difficulty the administration faces in ushering in any sort of green energy transition without boosting America’s top geopolitical foe.
The Energy Department”s lucrative award went to Amprius Technologies, a California-based company that has leaned on Chinese manufacturing. The company built a battery factory in the Chinese city of Wuxi in 2014 after striking a $40 million joint venture with the city”Amprius CEO Kang Sun stated at the time that the move would reduce costs. Amprius also uses Nanjing’s spin-off company to make its battery materials. Recognizing In corporate filings, it was stated that U.S. sanction could eventually affect its ability import such materials.
Amprius”s dependence on China reflects the broader challenges facing the Biden administration as it attempts to spur growth in the Chinese-dominated green energy industry. President Joe Biden”The Inflation Reduction Act offers tax credits for electric vehicles manufactured in North America. Vehicles made from Chinese battery materials will be exempted from tax starting in 2019.”t qualify for the credits, and American car manufacturers say they can”The deadline was not met. Ford, for example, plans to use Chinese batteries for its electric Mustang and F-150—models Biden himself It has Highlighted—and the company and others are fighting The rule was changed.
Amprius would be unable to comply if such a rule were applied by the Biden administration. This is because Amprius, according a December SEC filingThe company has bought hundreds of thousands in “raw materials” and “development materials”” from its two Chinese spin-off companies, Amprius Wuxi and Amprius Nanjing, purchases the company acknowledges “This could be continued” going forward. Removing China from that supply chain won”It won’t be easy: Amprius states in its December filing that such an effort is not possible “may not yield immediate results or may be ineffective” and force the company’s prices to rise.
A spokesperson for the Energy Department said that the Amprius grant will be used to help. “build a clean energy supply chain here at home” And “increase our national and energy security.” Amprius didn’t respond to specific questions regarding its foreign business dealings. Instead, it pointed the responsibility. Washington Free Beacon Its Corporate announcements webpage.
Biden has been around for a long time Promised To usher in a “clean energy revolution,” He is making this a top priority by putting hundreds of millions of dollars into the Bipartisan Inflation Reduction and Infrastructure Act. Biden states that the money is meant to create jobs. “clean energy economy” Full of “good-paying, union jobs” These funds will be used to help China ease its grip on green energy supply chain. Biden has instead used the money to reward Beijing-based companies.
Biden, for instance, was founded three months ago”s Energy Department awarded $200 million to another lithium battery company, Microvast Holdings, which the department called a “majority U.S.-owned company … headquartered in Stafford, Texas.” Microvast, however, is the Free Beacon reported The company is based primarily in China and was added to the SEC’s list of foreign entities that do not meet U.S. auditing requirements in April.
Republican lawmakers have been furious at such grants. Sen. John Barrasso (R., Wyo.) Senator John Barrasso (R., Wyo.) December letter That “the Bipartisan Infrastructure Law was ostensibly intended to develop robust domestic manufacturing bases and supply chains free from the predations of the [People”China’s Republic of China]” and that “DOE”s actions directly undermine the United States” a leading position in the race against China for technological supremacy.”
House Republicans share Barrasso’s concerns and are To be expected to use their newly obtained subpoena power to probe Biden”s green energy grants, investigations that could provide a window into the administration”s assessment of foreign investment risks—or lack thereof—when determining recipients.
Amprius has other spin-offs in Wuxi, Nanjing and Nanjing.”s website lists Beijing-based investment firm IPV Capital as an investor. The firm”Tingru Liu is Tingru’s managing partner. Previous served as Director of the Economic Policy Department of China”s Ministry of Information Industry, a government regulatory agency. Following that role, Liu served as a department head at China”China Investment Corporation is the largest sovereign wealth fund. It manages some of communist nations’ foreign exchange reserves.
Amprius”s CEO, Sun, is also no stranger to China”The green energy sector. Sun is a member of the boards at Amprius Nanjing and Amprius Wuxi. Prior to joining Amprius, Sun was a journalist. JA Solar, a solar company based in Shanghai, was founded by JA Solar.. Further research by the University of Sheffield Hallam in Britain Indicted Company that used forced labor in China’s concentration camp in Xinjiang.
Amprius also received Millions of dollars worth of grants Obama’s administration, just like the Biden administration, spent billions of dollars on green energy in an effort to boost the industry.”s viability. Some of the Obama administration”Biden hopes to avoid the fate of Fisker Automotive, an electric car manufacturer, and A123 Systems, a lithium battery startup, which were among the top grant and loan recipients.
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